Elopak Asa · OSL:ELO
Elopak Asa — Elopak A S — Q4 2024 Earnings Presentation
22 slides from Elopak Asa's earnings presentation, Feb 11, 2025
Slide 1: Quarterly presentation Q4 2024
Quarterly presentation Q4 2024
Slide 2: Disclaimer
Disclaimer Certain statements included in this announcement contain forward -looking information, including, without limitation, information relating to (a) forecasts, projections and estimates, (b) statements of Elopak management concerning plans, objectives and strategies, such as planned expansio
Slide 3: Elopak at a glance
Revenue end markets FY24 Revenue by region FY24 Other Aseptic 4% Elopak at a glance 20% The world’s largest player in fresh liquid carton packaging 76% 16 billion cartons produced in 2024 Fresh Sales to 70+ markets EMEA: 73% Americas: 27% 2,850 employees Russia Historical revenue development1 12 man
Slide 4: We're in the business of sustainable packaging
We’re in the business of Protecting essential commodities Enabling world nutrition sustainable Reducing plastics packaging 4
Slide 5: Business performance
Q4 2024 Business performance CEO Thomas Körmendi
Slide 6: Q4 2024 Business highlights
Q4 2024 Business highlights EBITDA of 40.8 million with a Installation of a second Roll Fed Strong carton and closure revenue margin of 14.4%, an line in India completed, doubling growth of 6.1% improvement of 0.7 million or 1.7% our production capacity Balance sheet remains solid with Proposed divi
Slide 7: Other key financial highlights in the Group
Other key financial highlights in the Group EBIT, FY (EURm) ROCE (%) Adjusted EPS to Elopak shareholders (EUR) +5% -1% -0.8% 110 16.7% 0,04 109 2023 15.9% 0,04 2024 Cash flow from operations, FY (EURm) CAPEX, FY (EURm) Net debt (EURm) +167% +11% -10% 155 109 370 140 333 41 7
Slide 8: Group: Strong Pure-Pak and closure growth - timing of filling machine sales impacting revenue
Group: Strong Pure-Pak® and closure growth - timing of filling machine sales impacting revenue Revenues (EURm) EBITDA (EURm) 14.0% 14.4% 15.1% 15.2% 2.2% 2023 1,132 1,157 2024 3.0% 171.0 176.1 -1.3% 1.8% 287 283 40.1 40.8 Q4 FY Q4 FY ▹ Quarterly organic* revenue decline of 4 EURm, 1.6% YoY - ▹ Impro
Slide 9: Our strategy: 'Repackaging tomorrow'
Our strategy: ‘Repackaging tomorrow’ A strategy focused on creating change: #1 A sustainability frontrunner, offering market leading ~2 By 2030; above market revenue growth with 3 Realize global growth Strengthen position technology in fiber- EURbn improved EBITDA strategic leadership in core based
Slide 10: Plant in Little Rock on plan to start production in H1 2025
Plant in Little Rock on plan to start production in H1 2025, on time and within budget Sold out Production capacity for first production line, plus sizeable part of line two EUR~100m Revenue per production line; space for additional lines at incremental capex of EUR 25-30m per line End-2025 Producti
Slide 11: Collaboration with leading co-filler unlocks new opportunities in Central Europe
Collaboration with leading co-filler unlocks new opportunities in Central Europe Union Cosmetic is a leading co-filler in Europe and the largest manufacturer of home care products in the Czech Republic ‘Twister’ is the first of several products to move from plastic packaging to D-PAK cartons “This n
Slide 12: Major French soup player SILL packs new Knorr and La Potagère product in Pure-Pak
Major French soup player SILL packs new Knorr and La Potagère product in Pure-Pak® Celebrating 30 years with Elopak, SILL Enterprises launches Knorr and La Potagère gazpacho soups in Pure-Pak® cartons French liquid soup market is expected to grow, reaching an estimated value of EUR 897 million by th
Slide 13: Financial performance
Q4 2024 Financial performance CFO Bent Kilsund Axelsen
Slide 14: EMEA: Pure-Pak and closure growth from new business and increased market share
EMEA: Pure-Pak® and closure growth from new business and increased market share in central and eastern Europe Revenues (EURm) - EMEA EBITDA (EURm) 12.9% 15.1% 15.6% 16.0% 0.4% 2023 871 874 3.2% 2024 135.6 140.0 -6.0% +10.0% 219 206 28.4 31.2 Q4 FY Q4 FY ▹ Very strong Pure-Pak® and closure volumes wi
Slide 15: Americas: Sustained revenue growth driven by strong demand
Americas: Sustained revenue growth driven by strong demand Revenues (EURm) - Americas EBITDA (EURm) 24.1% 22.4% 23.2% 22.9% 6.8% 2023 310 +5.2% 2024 291 71.0 67.4 4.7% -2.6% 80 84 19.4 18.8 Q4 FY Q4 FY ▹ Strong Pure-Pak® and closure volume growth enabled by joint ▹ Increased operating cost venture a
Slide 16: Continued strong underlying profitability in the quarter
Continued strong underlying profitability in the quarter EBITDA and EBITDA margin % quarterly (EURm) +1 EURm +1.8% 1.3 FTE increase 3.5 2.2 Salary inflation R&D and 4.4 3.5 other 0.2 -7.0 40.1 40.8 13.9% 14.4% Q4 2023 Net Revenue Mix* Raw materials** Operating cost Other and currency*** Q4 2024 * Ne
Slide 17: Robust cash flow from operations of EUR 140m largely reinvested in new US plant and dividends
Robust cash flow from operations of EUR 140m largely reinvested in new US plant and dividends Cash flow from operations Cash flow to investments Cash flow from financing* 263 -3 231 34 19 -12 24 -176 109 9 27 0 Net bank EBITDA Change Taxes Paid JV and CAPEX Other Lease Interest paid Dividends FX Eff
Slide 18: Balance sheet remains solid amid high investment levels
Balance sheet remains solid amid high investment levels Leverage ratio and net debt ROCE (LTM) Net debt (mEUR) 400 5.0 -0.8pp. -0,8pp. 371 370 350 333 339 4.5 17,4% 17.4% 17,7% 17.7% 313 16,7% 16.7% 16,8% 16.8% 106 107 4.0 15,9% 15.9% 300 102 108 3.5 250 105 3.0 200 2.5 2.1x 2.1x 2.0 150 1.9x 1.9x 1
Slide 19: Proposed dividends of EUR 0.13 per share
Proposed dividends of EUR 0.13 per share Dividend per share (EUR) and dividend yield (%), resolution year1 2024 Dividend proposal Yield DPS 5.0% Reiterate commitment to deliver competitive 0.18 5.0% dividend corresponding to 50-60% of normalized net 4.5% 0.16 4.0% profit 0.14 3.8% 4.0% 3.5% 0.13 0.1
Slide 20: Summary and outlook
Summary and outlook A year focused on delivering on our strategic priorities: ‒ New plant in America and expansion in India on plan ‒ Gaining new business and increasing market share in core ‒ Building on first-mover position with D-Pak Robust financial performance with growth in EBITDA and EBITDA m
Slide 21: Financial calendar
Financial calendar Event Dates Q1 2025 May 7, 2025 Annual General Meeting May 14, 2025 Q3 2025 August 14, 2025 Q3 2025 October 28, 2025
Slide 22: Thank you!
Thank you! Visit us at Elopak.com